THE ITO, WARD-2(2),, JAMNAGAR vs. SMT. SHITALBEN SAURABH VORA,, JAMNAGAR

Appeal of the assessee is dismissed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmedआयकर अपील सं./I.T.A. No.262-263/Rjt/2018 ("नधा"रण वष" / Assessment Years: 2012-13 & 2013-14) बनाम/ M/S.Surendranagar District D.C.I.T, Co-Op. Milk Producers Surendranagar Circle, Vs. Union Ltd. Surendranagar. Wadhwan City, Surendranagar "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaaas8375B (अपीलाथ" /Appellant) .. (""यथ" / Respondent) अपीलाथ" ओर से / Appellant By : Shri Kalpesh Doshi, A.R ""यथ" क" ओर से/Respondent By : Shri Jitender Kumar, Dr सुनवाई क" तार"ख / Date Of Hearing 17/09/2019 घोषणा क" तार"ख /Date Of Pronouncement 20/09/2019 आदेश / O R D E R Per Waseem Ahmed: The Captioned Appeals Have Been Filed At The Instance Of The Assessee Against The Separate Orders Of The Learned Commissioner Of Income Tax (Appeals)-7, Ahmedabad [Ld. Cit(A) In Short] Of Even Dated 12/01/2018, Arising In The Matter Of Assessment Order Passed Under 143(3) Of The Income Tax Act, 1961 (Hereinafter Referred To As "The Act") Dated 26/03/2015 Relevant To Assessment Years (A.Ys) 20012-13 & 2013-14. Ita Nos.262-263/Rjt/2018 A.Y.S 2012-13 To 2013-14 First, We Take Up Ita No. 262/Rjt/2018 For A.Y. 2013-14

capital gain as per the provisions of section 50C of the Act nor claimed the benefit of indexation as provided under section 48 of the Act. Therefore, the AO treated the same as business income of the assessee and made the addition to the total income. We further find that, there was no discussion in the order of the learned

M/S. SURENDRANAGAR DISTRICT CO-OP. MILK PRODUCERS UNION LTD. ,SURENDRANAGAR vs. THE DCIT, SURENDRANAGR CIRCLE,, SURENDRANAGAR

Appeal of the assessee is dismissed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmedआयकर अपील सं./I.T.A. No.262-263/Rjt/2018 ("नधा"रण वष" / Assessment Years: 2012-13 & 2013-14) बनाम/ M/S.Surendranagar District D.C.I.T, Co-Op. Milk Producers Surendranagar Circle, Vs. Union Ltd. Surendranagar. Wadhwan City, Surendranagar "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaaas8375B (अपीलाथ" /Appellant) .. (""यथ" / Respondent) अपीलाथ" ओर से / Appellant By : Shri Kalpesh Doshi, A.R ""यथ" क" ओर से/Respondent By : Shri Jitender Kumar, Dr सुनवाई क" तार"ख / Date Of Hearing 17/09/2019 घोषणा क" तार"ख /Date Of Pronouncement 20/09/2019 आदेश / O R D E R Per Waseem Ahmed: The Captioned Appeals Have Been Filed At The Instance Of The Assessee Against The Separate Orders Of The Learned Commissioner Of Income Tax (Appeals)-7, Ahmedabad [Ld. Cit(A) In Short] Of Even Dated 12/01/2018, Arising In The Matter Of Assessment Order Passed Under 143(3) Of The Income Tax Act, 1961 (Hereinafter Referred To As "The Act") Dated 26/03/2015 Relevant To Assessment Years (A.Ys) 20012-13 & 2013-14. Ita Nos.262-263/Rjt/2018 A.Y.S 2012-13 To 2013-14 First, We Take Up Ita No. 262/Rjt/2018 For A.Y. 2013-14

capital gain as per the provisions of section 50C of the Act nor claimed the benefit of indexation as provided under section 48 of the Act. Therefore, the AO treated the same as business income of the assessee and made the addition to the total income. We further find that, there was no discussion in the order of the learned

SEABIRD MARINE SERVICES PRIVATE LIMITED,JAMNAGAR vs. ACIT, CIRCLE - 1, JAMNAGAR, JAMANGAR

In the result, ground No.4 raised by the assessee is allowed

2) as actual loss is not\ndeterminable. The actual capital loss/capital gain should have been shown\nirrespective of treatment in book of account. Therefore, ld CIT(A), based on these\nfacts, confirmed the addition made by the assessing officer.\n10. Shri S. N. Soparkar, Ld. Senior Counsel for the assessee, pleaded on behalf\nof assessee that there was reduction

BABUBHAI KANJIBHAI SAKARIA,JETPUR vs. ITO WD 1(2)(1), RAJKOT, RAJKOT

In the result, the appeal filed by the assessee is allowed

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinhaआयकर अपील सं./Ita No. 156/Rjt/2025 (Assessment Year: 2016-17) Babubhai Kanjibhai Sakariya Vs. Ito, Wd 1(2)(1), Rajkot Plot No. 82 Satyam Park, Amarnagar Aaykar Bhavan, Race Course Ring Road, Jetpur,(Rajkot-Gujarat) -360370 Road, Rajkot 360001 "ायीलेखासं./जीआइआरसं./Pan/Gir No.: Agnps7407C (अपीलाथ"/Appellant) (""थ"/Respondent)

capital gains tax under section 45 of the I.T. Act, the Page 9 of 19 Babubhai K. Sakaria interest received undersection 28 of the Act of 1894 being an accretion to the value, would form part of the compensation and would be exigible to tax under section 45(5) of the I.T. Act, whereas the interest received under section

KANTABEN VAJUBHAI PAGHADAL,RAJKOT, GUJARAT vs. ITO WD 1(2)(1), RAJKOT, RAJKOT

In the result, appeal filed by the assessee is allowed

Bench: Dr. Arjun Lal Sainiआयकरअपीलसं./Ita No.552/Rjt/2025 "नधा"रणवष" / Assessment Year: (2016-17) (Hybrid Hearing) Kantaben Vajubhai Paghadal Vs. It-Office, New Aayakar At- Charan Samadhiyala, Bhawan, Jetpur – 360370(Gujarat) Rajkot - 360370 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Cxmpp2962D (Appellant) (Respondent)

capital gains tax under section 45 of the I.T. Act, the interest received under section 28 of the Act of 1894 being an accretion to the value, would form part of the compensation and would be exigible to tax under section 45(5) of the I.T. Act, whereas the interest received under section 34 of the Act of 1894 would

M/S CHANDRAKANT H. KAKKAD,,RAJKOT-GUJARAT vs. THE INCOME TAX OFFICER, WARD-4(2),, RAJKOT-GUJARAT

In the result, this ground of the assessee’s appeal is allowed

Section 139(1) of the Act. Therefore where the amounts of capital gains is utilized before 11/23 2'002.odt filing

SMT. JANKI KISHAN HINGORANI,RAJKOT vs. THE PR. CIT-1, RAJKOT, RAJKOT

In the result, the appeal of the Assessee is dismissed

Bench: Smt. Annapurna Gupta & Shri T.R. Senthil Kumar(Conducted Through Virtual Court) Assessment Year: 2015-16 Smt.Janki Kishan Hingorani The Pr.Cit 6/7, Subham Complex Rajkot-1 Royal Park, University Road बनाम/ Rajkot Rajkot – 380 006 Vs. Gujarat (Appellant ) ( Respondent ) Pan: Pan : Aahph 4774M Assessee By Ms.Amrin Pathan, Ld.Ar Revenue By Shri Shramdeep Sinha, Ld.Cit(Dr) Date Of Hearing 06/12/2023 Date Of Pronouncement 15/12/2023

section,— [***] [***] "net consideration", in relation to the transfer of a capital asset, means the full value of the consideration received or accruing as a result ITA No.56 /Rjt/2021 Janki Kishan Hingorani vs. Pr.CIT AY : 2015-16 [6] of the transfer of the capital asset as reduced by any expenditure incurred wholly and exclusively in connection with such transfer. (2) Where

SHRI JAWAHIR RAVICHANDRA MEHTA,DUBAI(UAE) vs. THE DCIT, CIRCLE-2, RAJKOT, RAJKOT

In the result appeal of the assessee vide ITA/81/Rjt/2020 stands dismissed

Bench: Shri Mahavir Prasad, Judicial Memebr & Shri Amarjit Singh, Accountant Memebr

2) of Section 150 as it stands, in our view, a fair and just interpretation would be that the Authority under the Act has been empowered only to reopen assessments, which have not already been closed and attained finality due to the operation of the bar of limitation under Section 149. 19. This Court took similar view in the case

M/S FLAMINGO HOTELS PVT. LTD.,,RAJKOT-GUJARAT vs. THE INCOME TAX OFFICER, WARD-1, GANDHIDHAM., GANDHIDHAM

In the result, the appeal of the assessee is dismissed with the above directions

Bench: Smt.Annapurna Gupta & Ms.Suchitra Raghunath Kambleassessment Year : 2010-11 M/S.Flamingo Hotels P.Ltd. Ito, Ward-1 Plot No.416 Gandhidham. Ward-2B Adipur-Kutch.

capital gain earned thereon had to be computed separately, the building, he held, stood transferred in the year in 3 which it was destroyed i.e. in the year 2001 when the right in the building stood extinguished, which tantamounted to “transfer” in terms of definition of the term under section 2

HIRAVATI MARINE PRODUCTS PVT. LTD.,,PORBANDAR vs. THE ADDITIONAL COMMISSIONER OF INCOME TAX, RANGE-2,, JAMNAGAR

In the result, the appeal of the revenue is partly allowed for statistical purposes

Bench: Shri Mahavir Prasad & Shri Waseem Ahmed"नधा"रण वष"/Asstt. Year:2007-2008 Addl. Commissioner Of Hiravati Marine Products Pvt. Income Tax, Vs Ltd. Range-2, Porbandar, Jamnagar. Pan No: Aabch2110C "नधा"रण वष"/Asstt. Year:2008-2009

section 10(2) does not deal exhaustively with the deductions, which must be made to arrive at the true profits and gains. To find out whether an expenditure is on the capital

THE ACIT, CIRCLE-2,, JAMNAGAR vs. M/S HIRAVATI MARINE PRODUCTS (P) LTD.,, PORBANDAR

In the result, the appeal of the revenue is partly allowed for statistical purposes

Bench: Shri Mahavir Prasad & Shri Waseem Ahmed"नधा"रण वष"/Asstt. Year:2007-2008 Addl. Commissioner Of Hiravati Marine Products Pvt. Income Tax, Vs Ltd. Range-2, Porbandar, Jamnagar. Pan No: Aabch2110C "नधा"रण वष"/Asstt. Year:2008-2009

section 10(2) does not deal exhaustively with the deductions, which must be made to arrive at the true profits and gains. To find out whether an expenditure is on the capital

THE DEPUTY COMMR. INCOME TAX, CIRCLE-1(2),, RAJKOT vs. M/S RADHE RENEWABLE ENERGY DEVELOPMENT PVT. LTD.,, RAJKOT

In the result, the appeal filed by the assessee is allowed

Bench: Shri Waseem Ahmed & Shri Siddhartha Nautiyal

Capital Gain” is devoid of any merit. 24 A.Y.2011-12 and others Furthermore, the assessee and the Directors are closely connected people and therefore there is no loss to the revenue merely on the reasoning that the income has been offered in the hands of the Director in place of the company. Thus, we don’t find any infirmity

THE DY. COMMR. OF INCOME TAX, CIRCLE-1(1),, RAJKOT-GUJARAT vs. M/S. RADHE RENEWABLE ENERGY DEVELOPEMENT PVT. LTD.,, RAJKOT-GUJARAT

In the result, the appeal filed by the assessee is allowed

Bench: Shri Waseem Ahmed & Shri Siddhartha Nautiyal

Capital Gain” is devoid of any merit. 24 A.Y.2011-12 and others Furthermore, the assessee and the Directors are closely connected people and therefore there is no loss to the revenue merely on the reasoning that the income has been offered in the hands of the Director in place of the company. Thus, we don’t find any infirmity

M/S RADHE RENEWABLE ENERGY DEVELOPMENT PVT. LTD.,,RAJKOT-GUJARAT vs. THE ASSTT. COMMR. INCOME TAX, CIRCLE-5,, RAJKOT-GUJARAT

In the result, the appeal filed by the assessee is allowed

Bench: Shri Waseem Ahmed & Shri Siddhartha Nautiyal

Capital Gain” is devoid of any merit. 24 A.Y.2011-12 and others Furthermore, the assessee and the Directors are closely connected people and therefore there is no loss to the revenue merely on the reasoning that the income has been offered in the hands of the Director in place of the company. Thus, we don’t find any infirmity

RADHE RENEWABLE ENERGY DEVELOPMENT PVT LTD,RAJKOT vs. THE PCIT, RAJKOT-1, RAJKOT, RAJKOT

In the result, the appeal filed by the assessee is allowed

Bench: Shri Waseem Ahmed & Shri Siddhartha Nautiyal

Capital Gain” is devoid of any merit. 24 A.Y.2011-12 and others Furthermore, the assessee and the Directors are closely connected people and therefore there is no loss to the revenue merely on the reasoning that the income has been offered in the hands of the Director in place of the company. Thus, we don’t find any infirmity

DUSHYANT BHARATBHAI MEHTA,RAJKOT vs. ITO WD-(2)(1)(2) , RAJKOT

In the result, appeal filed by the assessee, is allowed

section 45(2) of the\nAct, provides that although such a conversion of capital assets into stock- in-\ntrade of a business, carried on by the assessee, will be a transfer in the previous\nyear, in which the assets is so converted, but actual capital gain

THE ITO, WARD-1 (1) (4),, RAJKOT-GUJARAT vs. SHRI MAHENDRABHAI D. ZALAVADIA,, RAJKOT-GUJARAT

In the result, the appeal filed by the Revenue is dismissed

Bench: Shri Waseem Ahmed & Ms. Madhumita Royआयकर अपील सं./Ita No.610/Rjt/2015 "नधा"रण वष"/Asstt. Year: 2007-2008 I.T.O., Shri Mahendrabhai D. Zalavadia, Vs. Ward-1(1)(4), 303, Ayodhya Apartment, Rajkot. University Road, Rajkot. Pan: Aabpz6007F

section 45(2). The Ld.CIT(A)-1 ought to have appreciated that this is a technical error and he being a fact finding authority, ought to have directed the AO to recomputed capital gain

BHIKHALAL PRAHALADRAI AGARWAL HUF,GANDHIDHAM vs. ASSISTANT COMMISSIONER OF INCOME TAX, GANDHIDHAM CIRCLE, GANDHIDHAM

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinhaआयकर अपील सं./Ita Nos.779&780/Rjt/2024 ("नधा"रण वष" / Assessment Years: 2011-12 & 2016-17) Bhikhalal Prahaladrai Agarwal- Vs. Assistant Commissioner Of Income Tax, Huf, Gandhidham Circle C/O. Sarda & Sarda, Sakar, 1St It Office, Plot No. 32, Sector No. 3, Near Floor, Dr. Radha-Krishnan Road, Iffco Colony, Gandhidham Opp. Rajkumar College Rajkot Gandhidham - 370201 Rajkot - 360001 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aabha4638R (Assessee) (Respondent) Assessee By : Shri Vimal Desai, Ld. Ar Respondent By : Shri Abhimanyu Singh Yadav, Ld. Sr. Dr Date Of Hearing : 05/06/2025 Date Of Pronouncement : 21/08/2025

2)/ Information/Vax/2017-18 dated 23-03-2018 regarding manipulation in market price of shares of company namely Vax Housing Finance Corporation Limited listed on the Bombay Stock Exchange (BSE) in order to provide accommodation entries of Long ITA Nos.779&780/RJT/2024/AYs.2011-12&2016-17 Bhikhalal Prahladrai Agarwal-HUF Term Capital Gain. From the information it is gathered that a mass enquiry was conducted

BHIKHALAL PRAHLADRAI AGARWAL HUF,GANDHIDHAM vs. ASSISTANT COMMISSIONER OF INCOME TAX GANDHIDHAM CIRCLE, GANDHIDHAM

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinhaआयकर अपील सं./Ita Nos.779&780/Rjt/2024 ("नधा"रण वष" / Assessment Years: 2011-12 & 2016-17) Bhikhalal Prahaladrai Agarwal- Vs. Assistant Commissioner Of Income Tax, Huf, Gandhidham Circle C/O. Sarda & Sarda, Sakar, 1St It Office, Plot No. 32, Sector No. 3, Near Floor, Dr. Radha-Krishnan Road, Iffco Colony, Gandhidham Opp. Rajkumar College Rajkot Gandhidham - 370201 Rajkot - 360001 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aabha4638R (Assessee) (Respondent) Assessee By : Shri Vimal Desai, Ld. Ar Respondent By : Shri Abhimanyu Singh Yadav, Ld. Sr. Dr Date Of Hearing : 05/06/2025 Date Of Pronouncement : 21/08/2025

2)/ Information/Vax/2017-18 dated 23-03-2018 regarding manipulation in market price of shares of company namely Vax Housing Finance Corporation Limited listed on the Bombay Stock Exchange (BSE) in order to provide accommodation entries of Long ITA Nos.779&780/RJT/2024/AYs.2011-12&2016-17 Bhikhalal Prahladrai Agarwal-HUF Term Capital Gain. From the information it is gathered that a mass enquiry was conducted